• Economic success is a complex and often-elusive goal. We all know people who outwardly seem that they should be successful, yet they perpetually struggle. If we could identify and quantify sure-fire factors that lead to economic success, the world would be full of economically successful people who have simply followed the formula. But despite these difficulties, there are certain general factors that tend to correlate with economic success.
  
  

Background

• It is a harsh but undeniable reality that economically successful people often come from backgrounds in which they are veritably groomed for success. Samuel Bowles and and Herbert Gintis of the University of Massachusetts have documented the strong role that intergenerational wealth plays as a predictor of economic success. Economic advantages certainly are useful in getting a solid education and having sufficient resources to implement your vision when you start a business. In addition, people who come from economically successful backgrounds tend to grow up in cultures that expect and are accustomed to economic success. This type of upbringing instills a type of confidence that is much rarer among people who grow up watching their parents scraping to get by.
  
  

Aptitude

• People who are economically successful tend to have an aptitude for handling and investing money, or a talent in a particular field that can lead to economic success, such as performing arts or sports. People who are talented with money have a natural understanding of the consequences of making certain types of investments, which they supplement by studying and adding to their knowledge. People who have a lucrative type of talent don't merely coast on their natural abilities but, rather, work hard to make the most of their potential.
  
  

Perseverence

• According to Thomas L. Saaty of the University of Pittsburgh, the ability to persist in the face of adversity is a critical component in business success. People who are economically successful do not give up after a single setback, or even multiple setbacks. They usually understand that success involves making and learning from mistakes--and that it is a process that takes a considerable amount of time and work. They believe in themselves enough to carry the conviction that if they continue working hard and following their passion, it will just be a matter of time before they are successful.